$VZ
VERIZON COMMUNICATIONS INC

2014 Q2 Form 10-Q Financial Statement

#000119312514284281 Filed on July 29, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $31.48B $29.79B
YoY Change 5.7% 4.32%
Cost Of Revenue $12.09B $11.03B
YoY Change 9.55% 1.26%
Gross Profit $19.40B $18.75B
YoY Change 3.43% 6.21%
Gross Profit Margin 61.61% 62.96%
Selling, General & Admin $7.550B $8.047B
YoY Change -6.18% 2.16%
% of Gross Profit 38.93% 42.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.161B $4.151B
YoY Change 0.24% 0.56%
% of Gross Profit 21.45% 22.14%
Operating Expenses $7.550B $8.047B
YoY Change -6.18% 2.16%
Operating Profit $7.685B $6.555B
YoY Change 17.24% 16.0%
Interest Expense $1.164B $514.0M
YoY Change 126.46% -24.3%
% of Operating Profit 15.15% 7.84%
Other Income/Expense, Net $66.00M $25.00M
YoY Change 164.0% -26.47%
Pretax Income $6.544B $6.186B
YoY Change 5.79% 21.82%
Income Tax $2.220B $988.0M
% Of Pretax Income 33.92% 15.97%
Net Earnings $4.214B $2.246B
YoY Change 87.62% 23.07%
Net Earnings / Revenue 13.39% 7.54%
Basic Earnings Per Share $1.02 $0.78
Diluted Earnings Per Share $1.01 $0.78
COMMON SHARES
Basic Shares Outstanding 4.147B shares 2.865B shares
Diluted Shares Outstanding 4.153B shares 2.872B shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.424B $2.406B
YoY Change 167.0% -77.68%
Cash & Equivalents $5.776B $1.788B
Short-Term Investments $648.0M $618.0M
Other Short-Term Assets $2.424B $6.295B
YoY Change -61.49% 61.37%
Inventory $1.073B $1.040B
Prepaid Expenses
Receivables $12.97B $12.22B
Other Receivables $0.00 $0.00
Total Short-Term Assets $22.89B $21.96B
YoY Change 4.24% -19.07%
LONG-TERM ASSETS
Property, Plant & Equipment $89.71B $88.33B
YoY Change 1.56% 0.5%
Goodwill $24.66B $24.34B
YoY Change 1.34% 3.65%
Intangibles
YoY Change
Long-Term Investments $852.0M $3.319B
YoY Change -74.33% -6.22%
Other Assets $5.262B $3.801B
YoY Change 38.44% -24.0%
Total Long-Term Assets $201.5B $201.4B
YoY Change 0.07% 1.23%
TOTAL ASSETS
Total Short-Term Assets $22.89B $21.96B
Total Long-Term Assets $201.5B $201.4B
Total Assets $224.4B $223.3B
YoY Change 0.48% -1.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.52B $14.67B
YoY Change 12.61% 5.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.283B $7.961B
YoY Change -71.32% 34.66%
Total Short-Term Liabilities $26.49B $29.19B
YoY Change -9.24% 10.77%
LONG-TERM LIABILITIES
Long-Term Debt $107.7B $41.79B
YoY Change 157.7% -10.09%
Other Long-Term Liabilities $5.857B $5.677B
YoY Change 3.17% 8.05%
Total Long-Term Liabilities $5.857B $5.677B
YoY Change 3.17% 8.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.49B $29.19B
Total Long-Term Liabilities $5.857B $5.677B
Total Liabilities $32.35B $34.87B
YoY Change -7.22% 10.32%
SHAREHOLDERS EQUITY
Retained Earnings $5.551B -$2.483B
YoY Change -323.56% -234.58%
Common Stock $424.0M $297.0M
YoY Change 42.76% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.638B $3.974B
YoY Change -8.45% -10.46%
Treasury Stock Shares
Shareholders Equity $14.90B $34.06B
YoY Change
Total Liabilities & Shareholders Equity $224.4B $223.3B
YoY Change 0.48% -1.21%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $4.214B $2.246B
YoY Change 87.62% 23.07%
Depreciation, Depletion And Amortization $4.161B $4.151B
YoY Change 0.24% 0.56%
Cash From Operating Activities $7.665B $9.617B
YoY Change -20.3% 3.25%
INVESTING ACTIVITIES
Capital Expenditures -$4.402B -$4.161B
YoY Change 5.79% 6.75%
Acquisitions
YoY Change
Other Investing Activities $2.587B -$75.00M
YoY Change -3549.33% 476.92%
Cash From Investing Activities -$1.815B -$4.236B
YoY Change -57.15% 8.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.981B -9.068B
YoY Change -67.13% 591.69%
NET CHANGE
Cash From Operating Activities 7.665B 9.617B
Cash From Investing Activities -1.815B -4.236B
Cash From Financing Activities -2.981B -9.068B
Net Change In Cash 2.869B -3.687B
YoY Change -177.81% -190.1%
FREE CASH FLOW
Cash From Operating Activities $7.665B $9.617B
Capital Expenditures -$4.402B -$4.161B
Free Cash Flow $12.07B $13.78B
YoY Change -12.42% 4.28%

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